O-I Glass

This article is about the glass company. For the article about the Japanese super-heavy tank, see O-I super-heavy tank.

O-I Glass, Inc. (/ˈoʊɪnz ˌɪlɪˈnɔɪ/, /ˈoʊ ˈɒɪ ˈɡlæz/) is an American company that specializes in container glass products.^[2] It is one of the world's leading manufacturers of packaging products, holding the position of largest manufacturer of glass containers in North America, South America, Asia-Pacific and Europe (after acquiring BSN Glasspack in 2004^[3]). Approximately one of every two glass containers made worldwide is made by O-I, its affiliates, or its licensees.^{[citation needed]}

O-I Glass, Inc.

O-I Glass Headquarters
Formerly	Owens-Illinois, Inc.
Type	Public
Traded as	NYSE: OI S&P 600 component
Industry	Packaging Glass
Founded	1929; 94 years ago (1929) in Toledo, Ohio, U.S.
Founder	Michael J. Owens
Headquarters	Perrysburg, Ohio , U.S.
Key people	Andres Lopez (CEO)
Products	Glass
Services	Glass manufacturing
Revenue	US$6.4 billion (2021)
Operating income	US$449 million (2021)
Net income	US$172 million (2021)^[1]
Number of employees	24,000 (2021)
Website	o-i.com

Company

 

O-I Location in Holzminden, Germany

While legally known as Owens-Illinois, Inc.,^{[citation needed]} the company changed its trade name to O-I in 2005 to group its global operations under a single, cross-language and cross-culture brand name.^{[citation needed]}

The company's headquarters were previously located at One SeaGate, Toledo, Ohio. The headquarters were moved in late 2006 to the Levis Commons complex in Perrysburg, Ohio. The company is the successor to the Owens Bottle Company founded in 1903 by Michael Joseph Owens, who made the first automated bottle-making machine, and Edward Drummond Libbey. In 1929, the Owens Bottle Company merged with Illinois Glass Company to become Owens-Illinois, Inc.^[4] Six years later, Owens-Illinois merged with Corning Incorporated to form Owens Corning.^{[citation needed]}

In 1971 Owens-Illinois produced an early commercial plasma display, the digivue.^[5]

Until July 2007, the company was also a worldwide manufacturer of plastics packaging with operations in North America, South America, Asia-Pacific and Europe. Plastics packaging products manufactured by O-I included containers, closures, and prescription containers. In July 2007 O-I completed the sale of its entire plastics packaging business to Rexam, a United Kingdom listed packaging manufacturer.^[6]

Owens-Illinois was a part of the Dow Jones Industrial Average from June 1, 1959, until March 12, 1987. The company was added to the S&P 500 Index in January 2009. Owens-Illinois was one of the original S&P 500 companies in 1957. It was removed in 1987 (after purchase by KKR), added in 1991 and removed again in 2000.^[7]

In October 2010, Owens-Illinois Venezuela C.A was expropriated by President Hugo Chávez.^[8]

In May 2015, O-I made an offer to purchase the food and beverage glass container business of Mexican company Vitro for $2.15 billion.^[9] The acquisition closed in September 2015.[1]

In 2020, a subsidiary of O-I Glass, Paddock Enterprises, entered bankruptcy following numerous asbestos lawsuits filed against the company. All of the company’s asbestos-related claims were isolated within Paddock and separated from O-I's glass-making operations.^[10]

Partnership with NEG

Owens-Illinois partnered with NEG (Nippon Electric Glass), to produce glass television screens at its Columbus, Ohio, and Pittston, Pennsylvania, plants in the 1970s through the mid-1990s before allowing Techneglas to take over the operations.

Environmental issues

Although it has not made asbestos-containing materials since 1958, Owens-Illinois invented, tested, manufactured and distributed KAYLO asbestos containing thermal pipe insulation from 1948 through 1958.^[11] Owens-Illinois remains a named defendant in numerous asbestos litigation matters throughout the U.S.^[12] Some claims in these cases allege that Owens-Illinois was a participant in the seventh annual Saranac Seminar^[13] when the cancer-causing potential of asbestos was studied in the 1950s.^[14]

See also

•  Companies portal

• In-mould labelling
• Glass container production
• Glass

References

1. Financial Statements for Owens-Illinois Inc - Google Finance
2. "Owens-Illinois". Fortune. Retrieved 2018-12-23.
3. . PackWire.com. 2004-06-11. Archived from the original on 2015-07-22. Retrieved 2007-10-16.
4. "Company Facts". o-i.com. Retrieved July 24, 2017.
5. Hoehn, H. J.; Martel, R. A. (1971). "A 60 line per inch plasma display panel". IEEE Transactions on Electron Devices. 18 (9): 659–663. Bibcode:1971ITED...18..659H. doi:10.1109/T-ED.1971.17263.
6. "Owens-Illinois sells plastics unit to Rexam". Reuters. 2007-06-11. Retrieved 2023-03-20.
7. Staff (December 25, 2008). "Owens-Illinois Inc. headed back to S&P 500 stock index". The Blade. Retrieved November 20, 2021.
8. Unión Radio: . Archived from the original on 2011-07-25. Retrieved 2010-11-20.
9. . Zacks. Zacks. Archived from the original on 28 January 2016. Retrieved 1 July 2015.
10. Snyder, Kate (2020-01-07). "O-I Glass subsidiary files for bankruptcy amid asbestos lawsuits". Toledo Blade. Retrieved 2020-01-15.
11. History of Owens-Corning and Owens-Illinois and asbestos online 2011-08-06 at the Wayback Machine
12. Owens Illinois 10-K for December 2, 2009 listing liabilities (search asbestos)
13. History of the Saranac Laboratory at Saranac Lake, New York 2012-05-30 at the Wayback Machine
14. Dukes et al. v. Pneumo Abex (2008 Illinois appellate court opinion, search for Owens and Saranac)

External links

• Official website
• Business data for Owens-Illinois:
  • Bloomberg
  • Google
  • Reuters
  • SEC filings
  • Yahoo!
• O-I trademarks seen on their vintage glass containers